Life Insurance
Life insurance can help provide money to the people you name if you pass away, helping them cover bills, debts, and future plans.
Understanding the basics
Provides coverage for a set period, such as 10, 20, or 30 years. If the insured passes away during the term, a death benefit is paid. Term policies generally offer lower initial premiums but have no cash value and end when the term expires unless renewed or converted.
A type of permanent coverage designed to last your lifetime as long as premiums are paid. Many whole life policies build cash value over time. Premiums are typically higher than term coverage for the same death benefit.
Permanent policies (including whole and universal life) may include cash value that grows according to policy terms. Loans or withdrawals can reduce the death benefit and cash value and may have tax consequences.
The death benefit is the amount paid to your beneficiaries — the people or entities you name. Keeping beneficiary designations current is an important part of any plan.
Premiums are the payments that keep a policy in force. They depend on factors like age, health, coverage amount, policy type, and the insurer's pricing.
Underwriting is how an insurer evaluates your application. It may include health questions, medical records, or an exam. The insurer decides approval and final pricing.
Eligibility & pricing
Life insurance pricing typically depends on your age, health history, tobacco use, coverage amount, length of term, and the insurer you apply with. We'll review your goals and budget together; final eligibility and premiums are set by the insurance company after underwriting.
